The VN-Index advanced nine tenths of a percent on Wednesday, marking its fourth consecutive
positive session, as the influx of cash on HOSE continued with trading turnover surging to
Several bank tickers posted significant increases. VCB (+5.7%), CTG (+6.9%) and BID (+1.9%) were the top three contributors to the day’s gain. Moreover, HDB (+3.6%) and ACB (+1.9%) extended their winning streaks to four and five sessions, respectively.
In the construction and real estate sector, BCM (+4.4%) and NVL (+2.6%) gained. Steelmaker HPG (+1.1%) climbed for the fourth session in a row. On the negative side, GVR (-2.5%) was the top contributor among decliners.
VJC: Related party completes purchase of 10 million shares — equivalent to 1.85% stake
SOVICO Aviation— a related party of VJC — announced that it successfully bought 10 million shares of VJC (equivalent to a 1.85% stake in the airline) via put-through and market matching methods within the registered timeframe from December 4 to December 31, 2020. Prior to the purchase, SOVICO Aviation held no stake in the airline. We currently have a MARKET PERFORM rating for VJC with a target price of VND123,000/share
The Ho Chi Minh Stock Exchange (HOSE) announced that a public auction for GENCO2 will commence on February 8. EVN will auction off 580 million shares (or 48.9%) of GENCO2 at a starting price of VND24,520/share. The share capital is VND11.8tn (USD513mn) with an implied market capitalization of VND29tn (USD1.3bn).
EVNGENCO 2 is the fifth largest electricity producer in Vietnam and accounted for 7% of Vietnam’s total power output in 2019. With a total power generation capacity of 4,500 MW (or 3,360 MW if adjusted for GENCO 2’s ownership), the company
provides balanced exposure to coal-fired (40% of capacity), hydropower (35% of capacity) and gas-fired (25% of capacity) generation.
Reporting by VCSC